Inside Data and Outside Data
There is inside data, outside data and a whole bunch of noise in-between. The data cycles between inside and outside data. The value of this data varies widely and individuals with varying degrees of training and expertise curate this data.
The most valuable information provides some sort of leverage. Finding the data that provides the most leverage is what builds a competitive advantage.
One of the early promises of the web was that it would equal the playing field and reduce the asymmetry of information between buyers and sellers.
Thanks to ‘walled gardens’ and big data, this disparity has widened a bit again. The Internet mobs have power, but it is a weird kind of power.
The people with control of the information have the power and the algorithms have all the power on the Internet now.
But there are still niches of information where there is completive advantage. Processing the outside information and crossing it with your internal information is where you might that leveragable niche.
The inside data and the outside data are what you need to build your own marketplace.
This marketplace is where you will find the leverage that you need.
Photo by Robert Couse-Baker